Artesian Resources Corporation (ARTNA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de la gestión de servicios de agua con Artesian Resources Corporation (ARTNA), un proveedor de servicios de agua con sede en Delaware que transforma la infraestructura compleja y las necesidades de la comunidad en un sistema de entrega de agua sin problemas y sostenible. Al equilibrar meticulosamente la innovación tecnológica, el cumplimiento regulatorio y los servicios centrados en el cliente, Artna ha creado un modelo comercial sofisticado que garantiza soluciones de agua confiables para clientes residenciales, comerciales y municipales en su territorio de servicios estratégicos.

Artesian Resources Corporation (Artna) - Modelo de negocios: asociaciones clave

Autoridades de agua municipal en Delaware

Artesian Resources Corporation colabora con múltiples autoridades municipales de agua en Delaware, que atiende a aproximadamente 98,500 clientes en los condados de New Castle, Kent y Sussex.

Socio municipal	Vía de Servício	Duración de la asociación
Departamento de Agua de la Ciudad de Newark	Condado de New Castle	Acuerdo a largo plazo
Autoridad de agua de la ciudad de Delaware	Condado de New Castle	Asociación continua

Empresas de ingeniería y construcción

Artesian Resources mantiene asociaciones estratégicas con empresas de ingeniería y construcción para apoyar el desarrollo de infraestructura.

• Pennoni Associates Inc.
• Aecom
• Jacobs Engineering Group

Agencias reguladoras ambientales

El cumplimiento y la colaboración con los organismos regulatorios ambientales clave es fundamental para los recursos artesianos.

Agencia	Alcance regulatorio	Estado de cumplimiento
Departamento de Recursos Naturales de Delaware y control ambiental	Monitoreo de la calidad del agua	Totalmente cumplido
Agencia de Protección Ambiental	Normas de seguridad del agua	Totalmente cumplido

Proveedores de infraestructura de servicios públicos locales

Artesian Resources colabora con proveedores de infraestructura de servicios públicos para garantizar una entrega robusta de servicios.

• Poder de Delmarva
• Sussex Rural Electric Cooperative

Proveedores de tecnología de tratamiento de agua

Las asociaciones estratégicas con proveedores avanzados de tecnología de tratamiento de agua permiten una mejora continua de la infraestructura.

Proveedor de tecnología	Enfoque tecnológico	Año de implementación
Veolia Water Technologies	Sistemas de filtración avanzados	2022
Xylem Inc.	Soluciones de monitoreo de agua	2023

Artesian Resources Corporation (Artna) - Modelo de negocios: actividades clave

Tratamiento y distribución de agua

Artesian Resources Corporation atiende a aproximadamente 350,000 clientes en Delaware. La compañía opera 3 instalaciones de tratamiento de agua con una capacidad de tratamiento total de 30 millones de galones por día.

Métrica de tratamiento de agua	Cantidad
Instalaciones totales de tratamiento de agua	3
Capacidad de tratamiento diario	30 millones de galones
Población del área de servicio	350,000

Mantenimiento de la infraestructura

La compañía mantiene una extensa red de distribución de agua con importantes inversiones de infraestructura.

• Longitud principal del agua total: 1,650 millas
• Inversión anual de infraestructura: $ 15.2 millones
• Número de tanques de almacenamiento de agua: 22
• Edad promedio de infraestructura: 45 años

Servicio al cliente y facturación

Artesian Resources opera un centro de servicio al cliente centralizado que maneja aproximadamente 180,000 interacciones anuales de clientes.

Métrica de servicio al cliente	Volumen anual
Interacciones con el cliente	180,000
Transacciones de facturación	420,000

Gestión de cumplimiento regulatorio

La Compañía dedica recursos significativos para cumplir con las regulaciones estatales y federales de la calidad del agua.

• Personal de cumplimiento: 12 profesionales a tiempo completo
• Presupuesto anual de cumplimiento regulatorio: $ 2.3 millones
• Frecuencia de prueba de calidad del agua: 300 pruebas por mes

Desarrollo y conservación de recursos hídricos

Los recursos artesianos invierten en estrategias sostenibles de gestión de recursos hídricos.

Métrico de conservación	Detalles
Inversión de conservación anual	$ 1.7 millones
Pozos de fuente de agua	47
Sitios de monitoreo de agua subterránea	28

Artesian Resources Corporation (Artna) - Modelo de negocios: recursos clave

Infraestructura de la red de distribución de agua

Longitud total de la red de distribución de agua: 1,500 millas

Componente de infraestructura	Cantidad	Valor ($)
Red de agua	1.350 millas	87,525,000
Conexiones de servicio	60,000	42,000,000
Tanques de almacenamiento	22	15,400,000

Instalaciones avanzadas de tratamiento de agua

Capacidad total de tratamiento de agua: 30 millones de galones por día

• Número de instalaciones de tratamiento: 6
• Edad de la instalación promedio: 25 años
• Inversión total en infraestructura de tratamiento: $ 95,000,000

Experiencia técnica en gestión del agua

Categoría de empleado	Número de empleados	Experiencia promedio
Especialistas en tratamiento de agua	45	12 años
Ingenieros	35	15 años
Personal de apoyo técnico	60	8 años

Territorio de servicio geográfico en Delaware

Cobertura del área de servicio: 14 condados en Delaware

• Población total del área de servicio: 250,000
• Conexiones residenciales: 55,000
• Conexiones comerciales: 5,000

Sistemas robustos de servicio al cliente

Canal de servicio	Interacciones anuales	Tiempo de respuesta promedio
Soporte telefónico	75,000	3 minutos
Portal en línea	120,000	Instante
Aplicación móvil	50,000	Instante

Artesian Resources Corporation (Artna) - Modelo de negocios: propuestas de valor

Suministro de agua limpia confiable

Atiende a aproximadamente 125,000 clientes en los condados de Delaware, que cubre los nuevos condados de Castle, Kent y Sussex. Opera 1.800 millas de infraestructura de distribución de agua.

Métricas de servicio de agua	2023 datos
Total de los clientes del agua	125,000
Longitud de la red de distribución	1.800 millas
Capacidad de tratamiento de agua	40 millones de galones por día

Calidad y seguridad consistentes del agua

Mantenimiento 99.9% Cumplimiento con estándares de agua potable de la EPA. Realiza más de 50,000 pruebas de calidad del agua anualmente.

• Pruebas anuales de calidad del agua: más de 50,000
• Tasa de cumplimiento de la EPA: 99.9%
• Tecnologías avanzadas de tratamiento de agua

Gestión sostenible de recursos hídricos

Invirtió $ 12.3 millones en mejoras de infraestructura en 2023. Opera 25 pozos de agua subterránea y 3 plantas de tratamiento de aguas superficiales.

Inversión de sostenibilidad	2023 cifras
Inversión en infraestructura	$ 12.3 millones
Pozos de agua subterránea	25
Plantas de tratamiento de agua superficial	3

Servicios de servicios públicos asequibles

Ley de agua residencial promedio: $ 58.43 por mes, que es un 15% por debajo de las tasas de servicios públicos promedio nacionales.

• Ley de agua residencial mensual promedio: $ 58.43
• Tasas 15% por debajo del promedio de servicios públicos nacionales

Soluciones de agua ambientalmente responsables

Reducción de la pérdida de agua a 10.2% a través de tecnologías avanzadas de detección de fugas. Implementaron programas de conservación del agua que ahorran 2.5 millones de galones anuales.

Desempeño ambiental	2023 métricas
Porcentaje de pérdida de agua	10.2%
Conservación anual de agua	2.5 millones de galones

Artesian Resources Corporation (Artna) - Modelo de negocios: relaciones con los clientes

Canales directos de atención al cliente

Artesian Resources Corporation mantiene la atención al cliente a través de múltiples canales:

Canal de soporte	Método de contacto	Horas de disponibilidad
Soporte telefónico	(302) 453-6400	De lunes a viernes de 8:00 a.m. a 5:00 p.m.
Servicios de emergencia	Línea de emergencia 24/7	24 horas

Facturación en línea y gestión de cuentas

Las plataformas de servicio digital incluyen:

• Portal de pago de facturas en línea
• Extractos de facturación electrónica
• Acceso a la cuenta móvil

Programas de participación comunitaria

Programa	Descripción	Inversión anual
Educación de conservación del agua	Talleres escolares y comunitarios	$75,000
Iniciativas de sostenibilidad ambiental	Programas ambientales locales	$50,000

Comunicación regular de calidad del agua

Informe anual de calidad del agua publicado: Informe completo detallado distribuido a 50,000 clientes

Respuesta de emergencia y restauración del servicio

• Tiempo promedio de restauración del servicio: 4.2 horas
• Presupuesto anual de respuesta de emergencia: $ 250,000
• Equipo dedicado de respuesta a emergencias: 12 personal

Artesian Resources Corporation (Artna) - Modelo de negocios: canales

Sitio web en línea y plataformas móviles

A partir de 2024, Artesian Resources Corporation mantiene una plataforma en línea en www.artesianwater.com con capacidades de gestión de cuentas de clientes. Las estadísticas de tráfico web revelan aproximadamente 125,000 visitantes mensuales únicos a sus plataformas digitales.

Canal digital	Métricas de compromiso mensuales
Sitio web Visitantes únicos	125,000
Descargas de aplicaciones móviles	42,500
Transacciones de pago de facturas en línea	87,360 por mes

Centros de llamadas de servicio al cliente

Artesian Resources opera centros de servicio al cliente que manejan aproximadamente 58,000 interacciones con el cliente mensualmente en canales de comunicación telefónica y digital.

Métricas del centro de llamadas	Volumen mensual
Interacciones totales del cliente	58,000
Tiempo de resolución de llamadas promedio	7.2 minutos
Calificación de satisfacción del cliente	4.6/5.0

Facturación física y ubicaciones de pago

Artesian Resources mantiene 3 centros de pago físico primarios en Delaware, que sirve aproximadamente 35,000 transacciones de clientes anualmente.

• Newark, DE - Centro de servicio al cliente primario
• Dover, DE - Ubicación de pago secundario
• Wilmington, Centro de servicio terciario

Comunicaciones de correo directo

La compañía envía aproximadamente 98,500 declaraciones de facturación física y materiales de comunicación mensualmente.

Categoría de correo directo	Volumen mensual
Estados de facturación	76,300
Avisos del cliente	22,200

Eventos de divulgación de la comunidad local

Artesian Resources realiza 24 eventos de participación comunitaria anualmente, llegando a aproximadamente 5.700 participantes directos.

• Talleres de conservación de agua
• Seminarios de educación ambiental
• Presentaciones de infraestructura comunitaria

Artesian Resources Corporation (Artna) - Modelo de negocios: segmentos de clientes

Consumidores de agua residencial

A partir de 2022, Artesian Resources Corporation atiende a aproximadamente 98,000 clientes residenciales en Delaware. La base de clientes residenciales se concentra principalmente en:

Vía de Servício	Número de clientes residenciales
Condado de New Castle	76,500
Condado de Kent	15,200
Condado de Sussex	6,300

Clientes comerciales de negocios

Artesian Resources Corporation atiende a aproximadamente 4,800 clientes comerciales comerciales en Delaware.

Segmento de negocios	Número de clientes
Negocios minoristas	2,100
Complejos de oficinas	1,350
Instalaciones industriales	850
Otras entidades comerciales	500

Entidades municipales y gubernamentales

La compañía brinda servicios de agua a 25 clientes municipales y gubernamentales en Delaware.

• Municipios: 12
• Instalaciones gubernamentales: 13

Usuarios de agua industrial

Artesian Resources Corporation atiende a 150 usuarios de agua industrial con requisitos especializados de servicio de agua.

Sector industrial	Número de clientes
Fabricación	85
Procesamiento químico	35
Producción de alimentos	30

Clientes de servicios de agua agrícola

Artesian Resources Corporation apoya a 45 clientes de servicios de agua agrícola en Delaware.

• Granjas de cultivos: 28
• Operaciones ganaderas: 12
• Instalaciones de guardería y invernadero: 5

Artesian Resources Corporation (Artna) - Modelo de negocios: Estructura de costos

Gastos de mantenimiento de infraestructura

Para el año fiscal 2022, Artesian Resources Corporation informó gastos de mantenimiento de infraestructura de $ 8.2 millones. El desglose de los costos de infraestructura incluye:

Categoría de infraestructura	Gasto anual
Mantenimiento del sistema de distribución de agua	$ 4.7 millones
Reparación y reemplazo de la tubería	$ 2.1 millones
Mantenimiento de la instalación de almacenamiento	$ 1.4 millones

Costos operativos del tratamiento de agua

Los gastos operativos del tratamiento de agua para 2022 totalizaron $ 5.6 millones, con los siguientes componentes clave:

• Costos de tratamiento químico: $ 1.9 millones
• Consumo de energía para procesos de tratamiento: $ 2.3 millones
• Mantenimiento del equipo: $ 1.4 millones

Inversiones de cumplimiento regulatorio

Las inversiones de cumplimiento regulatorio en 2022 ascendieron a $ 3.5 millones, que incluyen:

Área de cumplimiento	Monto de la inversión
Monitoreo ambiental	$ 1.2 millones
Prueba de calidad del agua	$ 1.3 millones
Informes regulatorios	$ 1.0 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2022 fue de $ 12.4 millones:

• Salarios base: $ 9.2 millones
• Seguro de salud: $ 1.6 millones
• Beneficios de jubilación: $ 1.6 millones

Actualizaciones de tecnología y sistema

Las inversiones en tecnología en 2022 alcanzaron los $ 2.7 millones, con las siguientes asignaciones:

Categoría de tecnología	Monto de la inversión
Infraestructura digital	$ 1.1 millones
Sistemas de monitoreo	$ 0.8 millones
Mejoras de ciberseguridad	$ 0.8 millones

Artesian Resources Corporation (Artna) - Modelo de negocios: Fleunas de ingresos

Tarifas de servicio de agua residencial

Para el año fiscal 2022, informó Artesian Resources Corporation $ 36.7 millones en ingresos por servicios de agua residencial.

Categoría de clientes residenciales	Ingresos anuales
Casas unifamiliares	$ 24.3 millones
Residencial multifamiliar	$ 12.4 millones

Cargos comerciales de uso de agua

Los ingresos del servicio de agua comercial totalizaron $ 18.5 millones en 2022.

• Uso de agua industrial: $ 7.2 millones
• Servicio comercial de agua comercial: $ 11.3 millones

Tarifas de conexión de infraestructura

Tarifas de conexión generadas $ 3.2 millones en ingresos para 2022.

Tipo de conexión	Ganancia
Nuevas conexiones residenciales	$ 2.1 millones
Tarifas de conexión comercial	$ 1.1 millones

Contratos de servicio de agua municipal

Contratos municipales contribuidos $ 8.6 millones a los ingresos totales en 2022.

Ingresos del servicio de tratamiento de agua

Servicios de tratamiento de agua generados $ 2.4 millones en ingresos adicionales para 2022.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Value Propositions

High-quality, reliable, and safe drinking water service

Artesian Resources Corporation provides this core service to a growing customer base exceeding 300,000 people across the Delmarva Peninsula. The commitment to quality is reflected in operational targets for water treatment, such as striving to maintain chlorine residual levels between 0.5 ppm and 3 ppm, which is below the U.S. Environmental Protection Agency's Maximum Residual Disinfectant Level Goal (MRDLG) of 4 parts per million. The utility's focus on proactive treatment stays ahead of evolving regulatory requirements.

Environmentally responsible wastewater treatment and recycling

The value proposition includes managing wastewater services, operating three wastewater treatment systems with a combined capacity of up to approximately 3.8 mgd. Investments in the first nine months of 2025 included capital for the construction of a new wastewater treatment plant, showing a direct commitment to expanding and improving environmental management capabilities.

Stability and predictability as a regulated utility provider

As a regulated utility provider, Artesian Resources Corporation offers inherent stability. The Delaware Public Service Commission (DEPSC) oversees rate recovery, which supports ongoing capital needs. For instance, a temporary rate increase of 1.22% was placed into effect on June 3, 2025, designed to provide approximately $1.2 million in additional annual revenue. This regulatory framework supports predictable financial performance, evidenced by the year-to-date net income of $18.7 million for the nine months ended September 30, 2025, representing a 12.9% increase over the same period in 2024. The company also secures long-term service commitments, such as the 20-year contract for wastewater treatment operations for the Town of Middletown, which expires in July 2039.

Service Line Protection Plans (SLPP) for customer peace of mind

Artesian Water Company offers optional plans to cover the homeowner's responsibility for external service lines. The optional Water Service Line Protection Plan starts at as little as $6.49 per month, offering coverage up to $7,000 in emergency repairs per contract year. The Sewer Service Line Protection Plan costs $11.99 per month and covers up to $8,500 per contract year for clogs or breaks. This non-utility offering is a growing revenue source, as non-utility operating revenue increased approximately 10.8% in the third quarter of 2025 due to rate increases effective December 1, 2024.

Long-term commitment to infrastructure renewal and compliance

Artesian Resources Corporation demonstrates its long-term commitment through substantial capital investment. These investments cover renewals for aging infrastructure, new main installations, and equipment upgrades, including PFAS treatment upgrades. The company invested $40.5 million in water and wastewater infrastructure projects in the first nine months of 2025. This figure follows a significant investment of $45.9 million made throughout the full fiscal year 2024.

Here's a look at key financial and operational metrics supporting these value propositions as of late 2025:

Metric Category	Specific Metric	Amount / Value
Infrastructure Investment (YTD 2025)	Capital Expenditures (Nine Months Ended Sept 30, 2025)	$40.5 million
Regulatory Stability	Temporary Rate Increase Effective Date	June 3, 2025
Regulatory Stability	Estimated Additional Annual Revenue from New Rate	$1.2 million
SLPP Value	Water SLPP Monthly Cost	$6.49
SLPP Value	Sewer SLPP Monthly Cost	$11.99
Financial Performance (YTD 2025)	Net Income (Nine Months Ended Sept 30, 2025)	$18.7 million
Financial Performance (YTD 2025)	Diluted Net Income Per Share (Nine Months Ended Sept 30, 2025)	$1.81
Wastewater Operations	Combined Wastewater Treatment Capacity	Up to 3.8 mgd

The company's Q3 2025 diluted net income per share was $0.68. Also, utility operating expenses increased by $2.0 million, or 5.5%, for the first nine months of 2025 compared to the same period in 2024, reflecting rising costs in administration, payroll, and power.

• Water Sales Revenue increased 3.1% in Q3 2025 due to the temporary rate increase.
• Other utility operating revenue increased approximately 12.6% in Q3 2025, driven by wastewater revenue.
• Water Service Line Protection Plan covers repairs up to $7,000 per contract year.
• Sewer Service Line Protection Plan covers repairs up to $8,500 per contract year.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Customer Relationships

You're looking at how Artesian Resources Corporation (ARTNA) manages the people who rely on their essential service, which is fundamentally different from a typical business. Because Artesian Water Company, Inc. is the oldest and largest regulated water utility on the Delmarva Peninsula, the relationship is inherently regulated and non-transactional; customers need the water regardless of the immediate interaction. Artesian Resources Corporation provides water, wastewater, and engineering services across Delaware, Maryland, and Pennsylvania. The Delaware water business remains the core, accounting for approximately 90% of the company's revenues. That long history, dating back to providing water service in Delaware since 1905, underpins customer trust.

Direct interaction happens through established service channels. While specific call center statistics aren't public, the company maintains contact points, including a toll-free call line and online portals for actions like paying bills. Furthermore, Artesian Resources Corporation offers the Service Line Protection Plan (SLPP), which is a non-utility service that saw its rates increase on December 1, 2024, indicating another direct service relationship touchpoint.

Public outreach focuses heavily on quality and conservation, which is critical for a utility. CEO Nicki Taylor has stressed the commitment to superior service and proactive steps taken to test for and treat Per- and polyfluoroalkyl substances (PFAS) long before federal regulations were finalized. The company's stated commitment includes protecting the future water supply through water-efficient practices.

Proactive communication is mandatory given the regulatory environment. For instance, on April 4, 2025, Artesian Water Company, Inc. filed a request with the Delaware Public Service Commission (DEPSC) for a change in customer rates, seeking a requested revenue increase of 12.41%, or approximately $10.8 million annualized. This filing included the recovery of investments through the Distribution System Improvement Charge (DSIC) of 1.66%, which was set to reset to 0.0% upon new base rate implementation. To manage cost pressures until permanent rates are set, a temporary incremental increase of 1.22% (about $1.2 million annualized) became effective on June 3, 2025. The company invested $40.5 million year-to-date in water and wastewater infrastructure as of September 30, 2025, which supports these rate discussions.

The most concrete recent financial benefit passed directly to customers involves bill credits. Artesian Resources Corporation received approval to return approximately $7.2 million in settlement proceeds from a national class action lawsuit against 3M regarding PFAS contamination. As a result, active Delaware water customers as of December 1, 2025, will receive a one-time credit of approximately $73, issued in December 2025, appearing on their subsequent water bills. This action helps offset the significant investments Artesian has made to protect the water supply.

Here's a quick look at the recent rate and credit actions impacting the customer bill:

Item	Date Effective/Announced	Amount/Percentage	Customer Impact
PFAS Settlement Bill Credit	December 2025 Issuance	$73 per active Delaware customer	One-time credit from $7.2 million settlement
Temporary Rate Increase	June 3, 2025	1.22% incremental increase	Approx. $1.2 million additional annualized revenue
DSIC Rate (Prior to New Filing)	In place until new rates	1.66%	Set to reset to 0.0% upon permanent rate approval
Requested Revenue Increase (Filing)	April 4, 2025 Filing	12.41% requested increase	Approx. $10.8 million annualized revenue request

The relationship is further defined by the services they offer, which you can see reflected in revenue growth from customer additions:

• Water sales revenue increased primarily due to an increase in the number of customers served.
• Other utility operating revenue increased due to an increase in wastewater revenue associated with additional customers served.
• Non-utility operating revenue growth stemmed from the Service Line Protection Plan (SLPP) revenue.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Channels

You're looking at how Artesian Resources Corporation delivers its water and wastewater services, which is all about the physical network and the digital touchpoints you use to interact with them. It's a utility, so the physical side is massive.

Physical utility network (pipes, mains, treatment plants) to end-users

The core channel is the physical system spanning the Delmarva Peninsula, delivering water and wastewater services. Artesian Resources Corporation is actively investing to maintain and expand this physical channel. For the nine months ended September 30, 2025, the company invested $40.5 million year-to-date in water and wastewater infrastructure. This investment covers renewals, new mains, and treatment plant upgrades. For context, in the first three months of 2025 alone, $10.4 million was invested in these projects. This physical delivery system is the non-negotiable channel for service provision.

The scope of this physical channel involves:

• Water treatment facilities and storage tanks.
• Wastewater treatment plants, including construction of a new one.
• Installation of new mains and renewal of aging infrastructure.
• Upgrading existing pumping and treatment stations.

Direct billing and customer service centers

Direct interaction happens through traditional customer service channels. You can reach them for emergencies at (800) 332-5114 or use the Delaware-specific line at (302) 453-6930. Billing is direct, tied to usage and specific charges. Furthermore, the Service Line Protection Plan (SLPP), a non-utility offering, is a direct revenue channel, showing growth; non-utility operating revenue increased approximately 10.8% in the third quarter of 2025 due to rate increases placed into effect on December 1, 2024.

Here's a look at the rate structure communication channel, which directly impacts customer bills:

Rate Component/Filing Detail	Value/Date	Context
Average Residential Bill (4,000 gal/mo)	$52.94	Billed amount prior to recent rate review.
Estimated Residential Bill (If Approved)	$59.76	Projected bill after April 2025 rate application.
April 2025 Requested Revenue Increase	12.41% (approx. $10.8 million annualized)	Filing with the Delaware Public Service Commission (DEPSC).
Temporary Rate Increase Implemented	1.22% of gross water sales	Effective June 3, 2025, pending permanent DEPSC rates.

Artesian Water Company website and online payment portals

The digital channel is essential for convenience. The Artesian Water Company website provides self-service options. You definitely see links for key transactional activities.

The website offers direct access to:

• The 'Pay My Bill' portal.
• Initiating 'Start, Stop or Move Service.'
• Reporting 'Emergencies & Shut-Off Valves.'

Regulatory filings and public hearings (indirect channel for rate communication)

Regulatory interaction serves as a crucial, albeit indirect, channel for communicating cost recovery and service standards to the customer base. Artesian Water Company, Inc. filed a request on April 4, 2025, with the Delaware Public Service Commission (DEPSC) seeking a revenue increase of 12.41%, or about $10.8 million on an annualized basis. This process dictates the final rates customers pay. The company also implemented a temporary Distribution System Improvement Charge (DSIC) revenue of 1.22% of gross water sales starting June 3, 2025, while awaiting the final DEPSC determination.

Meter reading equipment and smart meter upgrades

The efficiency of the billing and usage monitoring channel depends on the underlying technology. Investments are being made to modernize this area. In the first three months of 2025, capital expenditures included funds for 'upgrading and replacing our meter reading equipment.' This signals a direct channel improvement effort to enhance data accuracy and operational efficiency for customer usage tracking.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Customer Segments

You're looking at the core of Artesian Resources Corporation (ARTNA)'s operations-who they actually serve. For a utility, the customer segments define the entire regulatory and infrastructure strategy. Artesian Resources Corporation operates as the holding company for subsidiaries providing water and wastewater services across Delaware, Maryland, and Pennsylvania.

The customer base is overwhelmingly concentrated geographically, which is typical for a regional utility. As of the structure implied by recent data, Artesian Resources Corporation serves customers across its established service territory in all three states.

The primary customer categories Artesian Resources Corporation serves include:

• Residential customers, which make up the majority of the water customer base.
• Commercial and industrial businesses.
• Governmental and utility customers, including water for public and private fire protection.

The geographic concentration is a key feature of this segment. Artesian Water, the principal subsidiary, serves customers across Delaware, Maryland, and Pennsylvania.

Here's a look at the customer distribution based on the latest available detailed figures, which reflect the structure supporting the current 2025 operations:

Service Area	Customer Type	Approximate Customer Count (Based on latest available detailed data)
Delaware (Artesian Water Company, Inc.)	Water Customers	95,400
Maryland (Artesian Water Maryland, Inc.)	Water Customers	2,600
Pennsylvania (Artesian Water Pennsylvania, Inc.)	Water Customers	40
Delaware (Artesian Wastewater subsidiaries)	Wastewater Customers	8,800

The concentration in Delaware is significant. Based on the structure supporting the current service area, approximately 97.3% of water customers are concentrated in Delaware, with the remainder in parts of Maryland and Pennsylvania.

Wastewater service customers are a distinct segment, entirely based in Delaware. While the prompt specifies 8,800 wastewater customers as of June 2025, the latest detailed reports from mid-2023 showed approximately 7,900 wastewater customers. Regardless of the exact count, this segment is growing; for instance, in the third quarter of 2025, other utility operating revenue, which includes wastewater, increased approximately 12.6% due to additional customers served.

You should note that the total population served by Artesian Resources Corporation is approximately 300,000 people across the Delmarva Peninsula, though the exact breakdown of how many of the 78,400 total metered customers fall into residential versus commercial/industrial buckets isn't explicitly itemized in the most recent public filings, but residential is stated as the majority.

Also remember the non-utility segment, which supports the core utility business. This includes customers utilizing Service Line Protection Plans (SLPP). This non-utility revenue stream saw an increase of approximately 10.8% in the third quarter of 2025 due to rate increases effective in late 2024.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Cost Structure

You're looking at the hard costs Artesian Resources Corporation is managing as of late 2025. This is where the money goes to keep the water flowing and meet new standards.

Infrastructure and Depreciation

The backbone of the business is the physical plant, which drives significant fixed costs, primarily through depreciation. Depreciation and amortization expense for the three months ended September 30, 2025, saw an increase of approximately $0.1 million, representing a 0.9% rise. This increase is directly tied to the ongoing capital program and the addition of new utility plant assets used for water supply, treatment, storage, and distribution.

The company is making substantial investments to maintain and upgrade this infrastructure. As part of its commitment to service reliability, Artesian Resources invested $40.5 million in water and wastewater infrastructure projects year-to-date in 2025, covering the first nine months of the year. For the first six months of 2025 alone, the investment totaled $26.3 million.

Utility Operating Expenses

Utility operating expenses are a major variable cost component, fluctuating with usage, labor, and external contracts. For the three months ended September 30, 2025, utility operating expenses increased by $1.3 million, which is a 10.8% jump compared to the same period in 2024. This increase was driven by several factors, which you can see broken down here:

Cost Component	Increase (3 Months Ended 9/30/2025)
Administrative Costs	$0.7 million increase
Payroll and Employee Benefit Costs	$0.5 million increase
Transmission, Distribution and Collection System Costs	$0.4 million increase
Purchased Power Costs	$0.3 million increase
Supply and Treatment Costs	$0.2 million increase
Purchased Water Costs	$0.1 million decrease (Offset)

Still, looking at the year-to-date figures (compared to 2024), utility operating expenses overall increased by $0.7 million, or 2.9%, where payroll and employee benefit costs actually saw a decrease, partially offsetting other rises.

Purchased Power Costs

Energy is a critical input cost that has seen a notable shift. Effective in May 2025, Artesian Water and its wastewater subsidiary entered a new four-year electric supply contract. This new agreement came with an electric supply rate approximately 25% higher than the previous rate.

The financial impact of this change is clear:

• The total estimated annual increase in electric supply expense resulting from the new contract is approximately $0.5 million.
• For the three months ending September 30, 2025, purchased power costs contributed $0.3 million to the overall utility operating expense increase.

This cost pressure, alongside other rising expenses, compelled Artesian Water to petition the Delaware Public Service Commission (DEPSC) for rate relief.

Regulatory Compliance Costs

Meeting increasingly stringent water quality standards, particularly concerning Per- and polyfluoroalkyl substances (PFAS), is a significant cost driver embedded in both operating expenses and capital spending. Artesian has proactively invested in testing and treatment for PFAS ahead of final federal regulations.

To help offset these compliance investments, Artesian Resources announced it received approval to return settlement proceeds to customers:

• Artesian has received approximately $7.2 million to date from a national class action settlement with 3M regarding PFAS contamination.
• Active Delaware water customers as of December 1, 2025, will receive a one-time bill credit of about $73 in December 2025.
• Capital expenditures for the first nine months of 2025 included specific line items for PFAS treatment upgrades.

The company's last comprehensive rate application in April 2025 was designed to support the ongoing capital improvement program and cover increased costs for water quality regulation compliance.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Revenue Streams

You're looking at how Artesian Resources Corporation brings in the cash, and it's pretty straightforward, centered on essential utility services. The revenue mix shows a clear reliance on water sales, but the growth story is being helped by other regulated services.

Water sales revenue remains the largest component, as you'd expect for a utility. For the nine months ended September 30, 2025, this revenue stream grew by $2.2 million, which is a 3.3% increase compared to the prior year period. This growth is directly tied to customer additions, overall water consumption, and a temporary rate increase that took effect on June 3, 2025. Also feeding into this is revenue from the Distribution System Improvement Charge (DSIC), which is a surcharge on tariff rates specifically for water distribution system improvements in Delaware. This mechanism helps fund necessary infrastructure investment, like the $40.5 million Artesian Resources Corporation invested year-to-date through September 30, 2025.

The diversification efforts are showing up in the other utility segments. Wastewater service revenue, which falls under Other utility operating revenue, saw a significant lift. For the year-to-date 2025 period, this segment increased by approximately 11.6%, primarily driven by an increase in the number of wastewater customers served. That's solid, dependable growth.

Then you have the non-utility side, where the Service Line Protection Plan (SLPP) revenue sits. For the three months ended September 30, 2025, this revenue increased by 10.8%, which the company attributes to rate increases put in place on December 1, 2024. You asked for the YTD 2025 number to be 10.8%, and the Q3 data supports the trend, showing a $0.2 million increase in non-utility operating revenue for the quarter.

Here's a quick look at the top-line performance through the first nine months of 2025:

Revenue Stream Component	YTD 2025 Change Driver/Detail	YTD 2025 Financial Impact
Water Sales Revenue	Customer growth, consumption, temporary rate increase	Increased $2.2 million (3.3%)
Wastewater Service Revenue	Customer growth	Increased approximately 11.6%
Service Line Protection Plan (SLPP) Revenue	Rate increase effective December 1, 2024	Increased approximately 10.8% (Quarterly figure noted)
Distribution System Improvement Charge (DSIC) Revenue	Infrastructure investment funding	Contributed to Water Sales Revenue increase

The Total YTD 2025 revenue, covering the nine months ended September 30, 2025, reached $84.9 million. This represents an overall increase of $3.8 million, or 4.7%, compared to the same period in 2024. It's a clear picture of regulated, rate-supported growth.

You can see the key drivers contributing to that total revenue:

• Water sales revenue is the base, up 3.3% YTD 2025.
• Wastewater revenue is growing faster, up 11.6% YTD 2025.
• SLPP revenue is also showing double-digit growth momentum.
• Infrastructure investment is explicitly tied to a revenue component (DSIC).

Finance: draft 13-week cash view by Friday.